Nikolas Sargeant
PROSPER has launched a new Performance Markets framework designed to link verifiable onchain strategy performance with independently priced crypto-native assets.
In a press release shared with Cryptowisser, the team stated that built on Pharos Network, the framework introduces a model called MemeRWA, which uses observable economic performance as a reference point without giving token holders ownership of, or a financial claim on, the underlying strategy.
The approach differs from conventional real-world asset (RWA) tokenization, where blockchain-based tokens can represent ownership or economic rights tied to an underlying asset.
Performance Markets Combine Vaults With Independent Tokens
Under the framework, third-party Curators establish Vaults around onchain strategies. Each Performance Market then creates two separate instruments: Vault Shares and p{VAULT}.
Vault Shares provide direct exposure to the underlying strategy, while p{VAULT} operates as a separate crypto-native asset associated with the Curator and strategy.
Crucially, p{VAULT} does not represent ownership in the corresponding Vault, track its net asset value (NAV), or provide holders with claims on Vault assets, profits or performance.
Instead, p{VAULT} is initially priced through a public bonding curve. Following graduation from that mechanism, pricing shifts to external liquidity markets. The Vault's onchain performance serves only as an observable economic reference for market participants.
Pharos Chief Business Officer Laura Shi said the model combines crypto's open participation with the transparency of onchain financial activity, allowing verifiable performance data to serve as a signal while token prices remain determined by participant activity.
Performance Markets also feature a predefined buyback-and-burn mechanism. Once a Vault strategy exceeds its high-water mark, a predetermined portion of eligible performance fees is used to purchase the corresponding p{VAULT} token through third-party decentralized exchanges. The acquired tokens are then permanently burned.
PROSPER emphasized that the mechanism is automated through smart-contract logic and is not intended to function as a price-support, stabilization or market-making program.
Each p{VAULT} begins with a fixed supply of 1 billion tokens, with no presale, team allocation, or insider allocation.
PROSPER Targets Greater Onchain Transparency
The framework is designed to make key market and strategy information observable onchain. This includes Vault holdings, NAV, accrued fees, bonding-curve reserves and token buyback transactions.
PROSPER provides the underlying technology infrastructure, while third-party Curators are responsible for deploying and managing strategies through the Vault system.
The launch forms the foundation of PROSPER's broader MemeRWA initiative, which aims to establish verifiable economic performance as a reference signal for independently traded crypto-native assets without transferring ownership rights or claims on the underlying strategies.
Prosper is a technology provider for liquid alpha and the first application of the MemeRWA framework, which connects independently verifiable economic performance data to crypto-native assets traded on third-party venues through predefined protocol mechanisms.
Using Prosper’s infrastructure, third-party Curators deploy strategies as two distinct instruments: Vault Shares, offering direct exposure to a strategy's NAV, and p{VAULT}, a fixed-supply asset. p{VAULT} does not represent a share of any Vault, its NAV, or its profits, and is not an investment contract. Built on Pharos Network
